Amylin Cuts SD Workforce
Monday, Nov 10, 2008 | Updated 3:18 PM PDT
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Amylin Pharmaceuticals announced it's cutting its San Diego workforce by 25% Monday. The restructure will leave 340 employees unemployed. According to a statement on the company's website, the cuts are part of a reduction of 2009 expenses designed to get the business plan back into "cash flow positive by the end of 2010." The company hopes to save more than $80 million.
The biopharmaceutical company is headquartered in San Diego. Its employees research potential therapies to treat diabetes and obesity.
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